FIFICO, also called Finance and Controlling, helps integrate the accounting side of a business.

All the financial sections like Accounts Receivable, Accounts Payable, General Ledger, Tax, etc are incorporated into SAP. So as payments are made, products are sold, entries in the books are automatically updated in the system in real time. It makes month ends much easier in companies now with all the automation.

Controlling, on the other hand represents the flow of costs and revenues from the transactions that take place in the company. It helps to track internal costs within the company. Thus, CO is a management tool which helps them analyze on how well the company is doing. The various segments include Cost accounting, Profitability, Product costing, etc.

Below is a layout of the SAP processes integrated together between the different modules.

FICO Processes

More pages